PMI in Hungary climbs to 60 in December

BUDAPEST: Hungaryʼs seasonally adjusted Purchasing Managersʼ Index (PMI) stood at 60 points in December, up from 58.8 in November, the Hungarian Association of Logistics, Purchasing and Inventory Management (HALPIM), which compiles the index, said on Tuesday. An index value above 50 shows expansion in the manufacturing sector, while a value under 50 signals contraction. Among the sub-indices that comprise the PMI, the new orders index rose slightly and remained over the 50 threshold. The production volume index was lower but still showed expansion. The employment index also dropped, but still showed more jobs being added to the economy.